Seakeeper Welcomes Madison Industries as New Partner to Lead Further Growth

CALIFORNIA, Md. (April 5, 2018) – Seakeeper Inc., the leader in marine stabilization, welcomes Chicago-based Madison Industries as a new majority owner. Existing Seakeeper management will continue running day-to-day operations, with Madison, led by Larry Gies, supporting the company vision of bringing stabilization to every boat 20’ and above.

Madison Industries, which has a perfect record of partnering with entrepreneurial companies and holding its companies forever, was chosen after an extensive process to select an owner that believes in Seakeeper’s vision and will support and protect the company’s unique culture.

When asked what drew him to Seakeeper, Larry Gies, Madison Industries president and CEO responded, “Innovative, customer centric and oh what a culture! We are honored to be a part of transforming the boating experience.”

Andrew Semprevivo, Seakeeper’s current COO, will now serve as president and CEO and
continue to lead Seakeeper and run company operations alongside Bob Moser, vice president of manufacturing & engineering, and Rebecca Smitha, vice president of finance. Seakeeper co-founders Shep McKenney and John Adams will stay on board as minority owners and remain deeply involved in product development. Both will be active members of the Board of Directors, with McKenney serving as Chairman.

“Seakeeper will continue to be an organization that employees want to work for, vendors want to sell to and customers want to buy from,” said Andrew Semprevivo, Seakeeper’s newly appointed president and CEO. “Our vision, leadership and incredible worldwide team will remain unchanged. Seakeeper is committed to engineering, producing, marketing and selling industry-changing products of the highest performance and quality, backed by the absolute best customer service.”

“We’re very proud of Seakeeper’s past and are even more excited to plan for its future,” said co-founder Shep McKenney. “Thank you to our loyal staff, customers and vendors who have believed in our technology and our vision. It’s been 10 years since we shipped our first gyro, and we are celebrating by ensuring Seakeeper is poised for future growth and industry leadership.”